Performance Food Group (NYSE:PFGC) Receives Average Rating of “Moderate Buy” from Brokerages

Performance Food Group (NYSE:PFGC) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $79.75.

PFGC has been the subject of several analyst reports. Stephens upped their price target on shares of Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Barclays upped their price target on shares of Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. BMO Capital Markets upped their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Finally, StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th.

Hedge Funds Weigh In On Performance Food Group

Several hedge funds and other institutional investors have recently modified their holdings of PFGC. Capital World Investors raised its stake in shares of Performance Food Group by 17.1% during the second quarter. Capital World Investors now owns 21,276,919 shares of the food distribution company’s stock valued at $1,281,722,000 after acquiring an additional 3,106,177 shares during the last quarter. Morgan Stanley raised its stake in Performance Food Group by 106.4% in the fourth quarter. Morgan Stanley now owns 4,921,712 shares of the food distribution company’s stock worth $287,379,000 after buying an additional 2,536,638 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock worth $152,011,000 after buying an additional 1,770,683 shares in the last quarter. Norges Bank bought a new position in Performance Food Group in the fourth quarter worth about $119,726,000. Finally, Invesco Ltd. raised its stake in Performance Food Group by 49.8% in the first quarter. Invesco Ltd. now owns 4,574,163 shares of the food distribution company’s stock worth $232,869,000 after buying an additional 1,521,519 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Performance Food Group Stock Up 0.1 %

Shares of NYSE:PFGC opened at $75.24 on Wednesday. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54. The firm has a fifty day moving average of $74.16 and a 200 day moving average of $66.48. The firm has a market capitalization of $11.71 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 1.08 and a beta of 1.39. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.20 billion. During the same quarter last year, the firm posted $0.83 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Performance Food Group will post 4.26 EPS for the current fiscal year.

Performance Food Group Company Profile

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.